Skip to main content

tv   Capitol Hill Hearings  CSPAN  February 24, 2012 6:00am-7:00am EST

6:00 am
globally, competition is very important. sometimes, countries trying to make use of -- they devalued their own currencies. they are trying to improve their competitiveness. it is not a fair competition. not to use the currency policy as a way of increasing your competitiveness. >> i cannot imagine this as directed at a country, but it just announced a zero rate up to 2014, which will mean seven years of free money.
6:01 am
i think it is important we take one incredibly short question from one person. if anybody has a question or we will go to the audience. a very short question from one person. >> hello. the world has about 7 billion people. the advanced region -- europe, america, japan -- collectively have under 1 billion. on what the imf -- to know what the imf leadership is pressing for 2012 for the further regions of the world. what are the policies for them? >> i will give them one minute to answer that question. it is in a sense of the most
6:02 am
important question asked. >> psalm to cut -- some two- thirds of global growth is coming through those areas. we are trying to emphasize that. because of the risks, we are trying to do what ever we can to develop lessons from other countries about effective social safety net. there has been tremendous success with the mexican and brazilian model. we have extended it to 40 other countries. some need other alternatives. that will be important for food security, clothes, and things that could happen. third is the continued -- to continue the structural reforms that help make the private sector possibilities in emerging markets. if you are thinking about allocation of capital to produce growth in a global system, this should be the bright spot.
6:03 am
>> we have to conclude with remarks about what is being sent -- said and done on the free market. it has been a very rich discussion. i would have liked to have gone on longer. one of the things that comes out of this is the world economy is iswing, the arieurozone still a concern. it is very important to remember the great thing that has made a difference to the perception about the changing monetary policy in europe -- the u.s. is doing this again. ever since the beginning of the crisis, we have used central banks in an unprecedented way, completely unprecedented way. it is incredibly important to understand that as long as that
6:04 am
remains the case, there will be a similar crisis. as long as we have this monetary policy, the central banks are telling you it will contain depression. that is what these rates mean. what else would they mean? the second point is a very strong thing that the your eurozone should be help from outside. it has not helped itself enough. in a range of s -- respect, both the short term and long term, and the fact the outside world thinks that way is very very important there is a lot of discussion about competitiveness, but competition, austerity issues. underneath all of that in the world we are talking about, economist are taking about those concerns. that is with the trade policy issues. everyone is looking for market
6:05 am
share by reducing wages and domestic demand, we have enough problems. that is my perception at the world level and something we have to think about. is that we areint living in a different world. i think the west just has not begun to wake up to the significance of this fact. i will make one last very provocative remark, which is i will no we have a different way to recognize this when the it immensely distinguished heads -- brent heads -- of the international organizations on this panel will be replaced by people respectively not european and not american. [applause] i do not expected to happen, but it has to happen. i think we should congratulate
6:06 am
the panel. we have had a very rich discussion. i hope we have raised your concerns. do not go away from davos as complacent as some people have become. we have not begun to get through this incredible mess we and the west have created. [applause]
6:07 am
6:08 am
6:09 am
6:10 am
>> thank you so much for welcoming me here and other members of the national executive committee. i hope to have the opportunity to see you this morning and to describe why i should be the republican nominee for president and to earn your endorsement. i would like to have your endorsement and your support in this effort. i want to step back and talk about my view for the country and what needs to be done. i will go back as early as i can remember, my first school days. this was in detroit, michigan. each of the parents who send their kids to school that morning believed that if their child was raised with the proper values and got a great education and was willing to work hard, they would have a home of prosperity and security. that has always been america's promise. if you have the right to values, you can be prosperous and secure. that promise has been broken in the last three years. you have 25 million people out of work or have stopped looking for work or can only find part- time jobs and need full-time employment. you see people in who have homes worth less than they all. the president's policies have been the opposite of what was needed to turn this economy around. he was proud to say he did not cause the recession. but he did make it worse. he made it harder for the american people to recover from that the economy. sometimes i wonder why that is and why that is so hard for people in the government to understand what it takes to make an economy work. they have never worked in a
6:11 am
really got me. if you send people to lead our economy who have never had a job in the private sector and expect them to make things better in the private sector, you are expecting them to make things better. the american dream is not owning your own home. it is getting your kids out of it. kids are graduating from college and cannot find a job. we have a president and the people around him who do not understand how the private sector works. and i do. i remember what it was like to work with folks who had little private sector experience. we face a tough economic time. i wanted to see if we could save money by hiring a for- profit jail management company to come in and run our prisons and jails in massachusetts. i thought they might do a better job at lower cost than the large union companies. i said let's get a bid. the response was interesting. they said they cannot possibly be lower cost than we are. they said, they have to are in a profit in we don't. i said, i do not think you understand how the private sector and the free economy works. the free enterprise system works because of an incentive for profit.
6:12 am
enterprises and individuals have an incentive for profit and they'd buy opportunities to do things better and better at lower cost. that is what makes our economy work. that is why america's economy leads the world. i looked at the president's policies that have been born in the halls of government. almost everything he has done has been the opposite of what was needed. look at the regulatory burden he put in place. he gave a speech at the state of union address that said we need less regulation. he had an initiative to reduce regulations and after the initiative was over they had reduced regulation by 0.10%. if i am president, i will say to all the obama era
6:13 am
regulations, i will eliminate all of those that killed jobs. those regulations are killing us. [applause] on energy policy, the president says he is for all of the above sources of energy. he makes it impossible to drill offshore for oil. he gets the epa to keep us from having a reliable source of natural gas. if i am president, i will take action to remove those restrictions.
6:14 am
i will open the keystone pipeline and get oil from canada. [applause] with regard to tax policy, this president's proposals have raised taxes on corporations, obamacare being the worst example. i was with a business a couple of days ago. they make diagnostic tests for people having various forms of testing being done by their physicians. they are looking at a 2.5% tax. the burden on this company is $5 million in new taxes. do you think that causes them to add jobs, to grow their facilities, to add employment? this president has added taxes on corporations.
6:15 am
company. do you realize how many people work at companies that are not c corporations tax at the corporate rate, but are taxed at the individual rate? they are llc's. do you know how many people work at those companies in america? 55% of americans work at businesses taxed at the individual rates. what is the president's plan for the individual rate? he plans to raise them. higher taxes do not create jobs. higher taxes kill jobs.
6:16 am
this president does not get how his policies are hurting america. what was my plan for taxation? for corporate entities that are taxed at the corporate level, i will reduce the tax rate. from 35%-25%. that makes this competitive with other nations around the world and will be an enormous stimulus for job creation. at the individual level, i will lower the marginal rates by 20%. [applause] i have to do both of those things without adding to the deficit. i had to reduce the deficit. how do i do that? we can maintain the level of progressivity that we currently have. i will reduce the deductibility
6:17 am
of individual expenses but typically at the high end. i will not lower the burden paid by the top 1%. i will lower the rate by 20% for everyone. it also means thati will cut back on the size of government. i will cut programs. in massachusetts, we went through the budget and cut back programs we could not afford even if we like to them. i will get rid of a lot of programs. my test is simple. is this program so simple it is worth borrowing money from china to pay for it? if it doesn't pass that test, i will get rid of it. [applause]
6:18 am
i have mentioned a few things -- regulations, energy policy, tax policy. let me mention one more. this is the one you find most interesting. crony capitalism. brush aside the principles of free enterprise and fair play and tilting the playing field toward the people who financed his campaign. that kind of crony capitalism we have not seen in this country to the extent we have seen it in this administration in history. you can see it through out the policies in this administration. trade policy. it is a good thing for american jobs to be able to sell goods to countries around the world. even nations like china have figured that out. in the last three years, china and the european nations have individually form a free-trade agreements with other nations around the world with 44 different agreements.
6:19 am
do you know how many agreements this president has worked out? zero. why isn't he doing that? why did he dragged his feet on our free trade agreement with columbia and south korea? organize unions did not want it. bowing to them, he holds off on trade. even before his stimulus went into effect, what did he do the two weeks before the stimulus? he issued an order forcing the government to use only union labor on construction projects. he bailed out the auto makers in a way that did not follow the normal process of bankruptcy, but gave the auto companies to the uaw, the people who supported his campaign. he fought for card check. not getting it,he put in place labor stooges at the labor
6:20 am
relations board. his decision on boeing was one of the most egregious decisions we have seen in a long time. he flies in the face of what it takes for entrepreneurs and innovators to decide to hire people. i do not think he understands how these kinds of decisions are hurting the american people and making it harder for our economy to rebuild. the longer it takes for this economy to grow again, the more people in america are suffering. his policies are hurting the american people. what are we going to have to do? we are going to have to change that policy. instead of having a president
6:21 am
that bows to special interests, we need a president who bows to the interests of the american people. [applause] i was delighted to hear my introduction regarding the things i did in massachusetts. i did not get as much done in massachusetts with regard to these policies as i would have liked tomy legislature was 85% democrat. . we battled and i fought every way i could. to level the playing field and we had some successes. they passed a card check law. it was passed and it reached my desk. i vetoed it. despite the fact there were 85% democrats. we were successful in fighting against this legislation. [applause]
6:22 am
we also had restrictions in our government contract. i was able to remove those. i prevented state employees from receiving government pay while they were doing union work. i stopped the practice of having people going into political action committees with their union dues. [applause] if i become president of the united states, i will curb the practice we have in this country of giving union boss is an unfair advantage in contacting. -- contracting. on day one,i will end the government favoritism toward unions in contacting for federal contracts. [applause]
6:23 am
i did not know that was going to get that kind of response. [laughter] i would have said that earlier. we will make sure workers in the the country have the right to a secret ballot. i will fight for right to work [applause] one other thing i will fight for is to say, we cannot have union bosses taking money out of the paychecks of their workers to go into a political action committee that is directed to the cause of the candidates selected by the chief executive officer of the union. that is an un-american practice that has to end. [applause] i hope you watched the debate last night. it was kind of fun. i enjoyed it. it was an interesting night.
6:24 am
i did not expect what happens. -- have been dead -- happenedwe saw senator santorum explain why it did or voted four things he disagreed with. he said this was taking one for the team. i wonder which team he was taking it for. [laughter] my team is the american people, and not the insiders in washington. i will fight for the american people. [applause] he explained why he voted against the repeal of rights to work laws. he said it was against this principle, but he did it for the team. he explained why it voted to protect davis-bacon. he explained why he voted for no child left behind even though that was against his principles.
6:25 am
he explained why he voted for the bridge to nowhere even though that was against his principles. i do not know when i have ever seen a politician explain in so many ways why he voted against his principles. i appreciate the work you are doing. i will abide by my principles and my team is the people of the united states. [applause] i know how hard it is. i do not know any industry that is more cyclical than yours. i have a family heritage in our industry. my grandfather was a general contractor. he went from arizona to idaho and to utah. he went broke in each state.
6:26 am
[laughter] my father told me he went broke more than once in his life. i remember listening in to my father talking to his brother. they were talking about paying off some of their father's loans. my grandfather did not walk away from those obligations. he and his sons try to pay off its loans that he could not pay it throughout his life. it is tough in our industry with the ups and downs. most people have no idea what lath and plaster is. you do not put it up anymore, but you tear it down. [laughter] my father can put nails in his mouth and spit them out pointy end forward. [laughter]
6:27 am
that was something to behold. i know how tough it can be and what of times you are going through. the fact that you are sitting here is a testament to your economic conservatism. if you are not a fiscal conservative, you are not in business. you know how to balance budgets. if i am the president of the united states, i will balance budgets. i will grow our economy and get people back to work. i will reduce expends and eliminating programs and sending some programs back to states and the other way and make sure we live within our means is to grow our economy and getting people back to work in the ways i have just described. i will lower the corporate tax rate and the individual marginal tax rate, the tax rate that employers to 85% of our people. i will and the regulatory burden that is crushing this country. i will open up our energy resources and open up trade and
6:28 am
crack down on china that has been stealing their jobs for unfair labor practices and finally, i will make sure that as we deal with unions, i am happy to compete on a level playing field -- i know the american people and free individuals and businesses can compete but it is time for the government to let the competition began on a level playing field and do not tilt in favor of labor unions. [applause] i will return to the principles of the declaration of independence and the constitution. i fear what you are seeing in this country is a move toward the kind of government- dominated, social welfare states you see in europe. with a government that rewards their friends and entities that take on more and more power and crush the american spirit. i believe that what was part of the american greatness and is
6:29 am
what part of next as the economic engine we are today is the brilliance of the founders and the inspiration of providence that when they wrote the declaration of independence, they wrote these words -- that we were in doubt by our creator by these rights and among them were life, liberty, and the pursuit of happiness. in this country, we would be free to pursue happiness as we choose. we would not be directed by our government as to how we could pursue our happiness. we would not be limited by the circumstance of birth as to how our happiness could be pursued. we would not even be told we could join the union against their will. we could pursue happiness as we choose. that principle, freedom, our commitment to live, and our unwavering commitment to the freedom of individuals to pursue their enterprises in the way they choose -- those things brought people from all over the world here seeking freedom and
6:30 am
opportunity. we were an opportunity nation. this president and his friends are trying to turn this into a nation we would not recognize, more like europe. i want to remain an opportunity nation where people can achieve their dreams. that is what makes america who we are. if i am president of the united states, i will keep america to the constitution and the principles of the declaration of independence. i will work with you and the american people to make sure this mission remains as it is has always been, the hope of the earth. thank you very much, and i would appreciate your help. thank you. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012]
6:31 am
>> president obama was in florida to talk about his energy agenda amidst rising gas prices. he spoke -- he spoke to students at the university of miami for about 25 minutes. >> good afternoon, everyone. i am glad you are here with us today and i would like to welcome you to the university of miami. i am from kissimmee, fla. a. as a biomedical engineering at major, i am at the university of miami on the leading edge of finding new discoveries that will transform health and well- being around the world. the college of engineering is helping to expand new knowledge and its applications in a wide variety of industries including the energy sector or. i am proud to be a part of this young generation of engineers and student's right here on
6:32 am
campus that is leading the way to build a brighter future for energy in our country. we are honored that president obama came down here to the university of miami to talk about the importance of american energy and he picked a good week to do it. this is national engineers week for e-week as we like to college. the college is testing some 200 high-school girls today as part of national introduce a girl to engineering day. [applause] so, mr. president, thank you for putting engineers week on the map and although i would like to personally introduce your two daughters to engineering, i have sent them e-week teachers instead. and now, on behalf of the university of miami, students, faculty, and staff -- please welcome the president of united states. [applause] ♪
6:33 am
[cheers and applause] >> hello, miami. [cheers and applause]
6:34 am
it is good to see all of you here today. [cheers and applause] i want to thank erica that outstanding introduction. she said her parents were tweeting that they are proud of her. i want to thank your president, this country's former secretary of health and human services, donna shalala. [cheers and applause] senator bill nelson is here, give him a big round of applause. [cheers and applause] he is a former astronaut, that is to cool. [laughter] and my good friend, congresswoman debbie wasserman schultz. [cheers and applause] it is good to be back in sunny florida [cheers and applause] i must say i don't know how you guys go to class. [laughter] i'm assuming you go to class.
6:35 am
it is just too nice outside. in another life, i would be staying for the knicks-heat game tonight and go up to orlando for the nba all-star weekend. [cheers and applause] these days i've got some other things on my plate. [laughter] just a few. i just got a fascinating demonstration of the work that some of you are doing at the college of engineering. [cheers and applause] let me say at the outset that we need more engineers so i could not be prouder of those of you who are studying engineering. it was fascinating stuff. i understood about 10% of what they showed me. it was very impressive.
6:36 am
the work could not be more important. what they were doing was figuring out how our buildings, manufactures, businesses can weighs less energy and that is one of the fastest, easiest ways to reduce our dependence on oil and save a lot of money in the process and make our economy stronger. some cutting edge stuff is being done right here at the u. [cheers and applause] that is what i am here to talk about today. in the state of the union, i laid out three areas we need to focus on if we want to build an economy that lasts and is good for the next generation, all of you. and we need new american manufacturing. we've got to have new skills and education for america's workers and we need new sources of american-made energy.
6:37 am
right now, we are experiencing just another painful reminder of why developing new energy and is so critical to our future. just like last year, gas prices are climbing across the country. this time it is happening even earlier and when gas prices go up, it hurts everybody, everybody wants a car, a business -- it means you have to stretch a paycheck even further. it means you have to find even more room in a budget that was already really tight. and some folks have no choice but to drive a long way to work. and high gas prices are like a tax straight out of your paycheck. i got a letter last night -- i get 10 letters every night that i read out of the 40,000 letter sent to meet - at least two of m
6:38 am
said i don't think i can keep my job of gas prices go up so high because it is hard to manage the budget and fill up the tank. many folks are going through tough times as a consequence. some politicians see this as a political opportunity. i know you are shocked by that. [laughter] last week, the lead story in one newspaper said "gasoline prices are on the rise and republicans are licking their chops." that is a quote. only in politics do people root for bad news. they agreed and bad news so enthusiastically -- vague -- you pay more and they collect their jobs. you can bet that sense it is an election year, they are dusting off their three point plan for
6:39 am
$2 gas. i will say this is bad. step one is to drill and step two is to drill and step three is to keep drilling. we heard the same line in 2007 when i was running for president. we hear the same thing every year. we have heard the same thing for 30 years. the american people and not stupid. they know that is not a plan. since we are already drilling, that is a bumper sticker. it is not a strategy. [cheers and applause] that as a strategy to get politicians through an election. you know there are no quick fixes to this problem. you know we can magistral our way to lower gas prices. if we're going to take control
6:40 am
of our energy future and start avoiding these annual gas price spikes that happen every year when the economy starts getting better and world demand start increasing, turmoil in the middle east tour other parts of the world, if we are going to avoid being at the mercy of these world events, we've got to have a sustained, all of the above strategy to develop every available source of american energy. yes, oil and gas, but wind and solar and nuclear and biofuel and more. [cheers and applause] we need to keep developing the technology that allows us to use less oil in our cars and trucks. less energy for our buildings and plants and factories. that is the strategy we are pursuing and that is the only real solution to this challenge. now, it starts with the need for
6:41 am
a safe, responsible oil production here in america. we will not transition out of oil anytime soon and that is why under my administration, america is producing more oil today than at any time in the last eight years. that is why we have a record number of oil rigs operating now, more working oil and gas rigs than the rest of the world combined. over last three years, my administration has approved dozens of new pipelines including from canada. we have opened millions of acres for oil and gas exploration. we plan to make available more than 75% of our potential offshore gas and oil resources from alaska to the gulf of mexico. last week, we announce to the next step toward further energy exploration in the arctic. earlier this week, we joined mexico in an agreement that will make more than 1.5 million acres in the gulf available for
6:42 am
exploration and production which contains an estimated 172 million barrels of oil and 304 billion cubic feet of cuba's desperate we're focused on production. that is not the issue. we will keep on producing more homegrown energy but here's the thing -- it is not enough. the amount of oil we drill at home does not set the price of gas by itself. the oil market is global. oil is bought and sold in a world market. just like last year, the single biggest thing causing the price of oil to spike right now is instability in the middle east. this time, around iran. when uncertainty increases, speculative trading on wall street increases. that drives prices up even more. those are the biggest short-term factors at work here.
6:43 am
over the long term, the biggest reason oil prices will probably keep going up is growing demand in countries like china and india and brazil. think about this -- in five years, the number of cars on the road in china more than tripled in the last five years. nearly 10 million cars were added in china in 2010 alone. 10 million cars and one year, in one country -- think about how much oil that requires. as folks in china and india and brazil aspire to buy a car like americans do, those numbers will get bigger. what does that mean for us? it means that anybody who tells you that we can drill our way out of this problem does not know what they're talking about or isn't telling you the truth. [cheers and applause]
6:44 am
young people especially understand this because when i talk to melia and sasha, you guys are more aware than i was about conserving our natural resources and conserving the planet. the united states consumes more than 1/5 of the world's oil just us. we only have 2% of the world's oil reserves. we consume 20% and we have to%. that means we cannot just rely on fossil fuels from the last century. we cannot allow ourselves to be held hostage to the ups and downs of the world oil market. we have to keep developing new sources of energy and develop new technology that helps us use less energy and use energy smarter. we've got to rely on american
6:45 am
know how, young engineers right here at the u who are focused on energy -- [cheers and applause] that is our future. that is exactly the path that my administration has tried to take these past three years and we are making progress. that is the good news. in 2010, our dependence on foreign oil was under 50% for the first time in over a decade. we were less reliant on foreign oil than we had been. in 2011, the united states relied less on foreign oil than in any of the last 16 years. that is the good news. because of the investments we have made, the use of clean, renewable energy in this country has nearly doubled. thousands of american jobs have been created as a consequence. we're taking every possible action to develop safely a near
6:46 am
100-year supply of natural gas in this country, something experts believe will support more than 600,000 tons by the end of the decade. we supported the first nuclear power plant in decades and our cooperation with the private sector as position this country to be the world's leading manufacturer of high powered batteries that will power the next generation of american cars that use less oil maybe they won't use any oil level. after three decades of inaction, we put in place the toughest fuel economy standards in history for our cars and pickup trucks and the first standards ever for heavy-duty trucks and because we did this, our cars will average nearly 55 miles per gallon by the middle of the next decade. that is nearly double what they did today. [cheers and applause] -- what the guest today. i remember what was like as a student. the problem of one of those old
6:47 am
beaters. i can tell you some stories about the cars i had to. i bought one for $500. by the next decade, you guys will be buying new cars, hopefully sooner than that and that means you will be able to fill up your car every two weeks instead of every week, something that will save the typical family more than $8,000 at the pump. it means this country will reduce our oil consumption by more than 2 million barrels per day. that is not only good for your pocketbook, that is good for the environment. [applause] we've got to do more. we've got to act even faster. we have to keep investing in the
6:48 am
development of every available source of american-made energy. this is a question of where our priorities are. this is a choice we face. first of all, while there are no silver bullets short term i comes to gas prices and anybody who says otherwise, you can tell them the truth -- i have directed my administration to look for every single area where we can make an impact and help consumers in the months ahead from permiting to delivery bottlenecks to what is going on in the oil markets. we will look at every single aspect of gas prices because we know the burden is putting on consumers. we will keep taking as many steps as we can in the coming weeks. that is short term but over the long term, on -- and all of the above energy strategy requires us to have the right priorities and right incentives. right now, $4 billion of your
6:49 am
tax dollars subsidize the oil industry every year. $4 billion " they don't need a subsidy. they are making near record profits produce a the same oil companies that in making record profits of the money is spent at the pump for several years now. how do they deserve another $4 billion from taxpayers in subsidies? it is outrageous. it is inexcusable. [applause] every politician that it's been fighting to keep those subsidies in place to explain to the american people why the oil industry needs more of their money especially at a time like this. [cheers and applause] a century of subsidies that oil companies is long enough. it is time to end taxpayer
6:50 am
giveaways to an industry that has never been more profitable than double that on the klan and the jury -- on the clean energy industry -- that is what we need to do. [cheers and applause] this congress needs to renew the clean energy tax credit that will lead to more jobs and less dependence on foreign oil. to sustain and all of the above energy strategy is all around us. in 2008, miami became the first major american city to power its city hall entirely with solar and renewable energy, right here in miami. [cheers and applause] the modernization of your power grid to waste less energy is one of the largest projects of its kind in the country. on a typical day, the wind turbine at the miami-dade museum
6:51 am
can be 10% of the energy needs in south florida home and the largest when producer in the country is over at jjuno beach. your work is helping consumers said millions of dollars of energy bills by making facilities more energy efficient. a lot of work is being right here in -- being done right here in this area. the role of the federal government is not to supplant his work or take it over and directs the research, it is to support these discoveries. it is our job to help outstanding work that is being done in universities and labs and help businesses get new energy ideas off the ground. it was public research dollars that over the years helped develop the technology that companies are now using to extract the natural gas out of shale rock. these pay of some public investment don't come right away
6:52 am
and some don't pan am and some companies will fail but as long as i am president, i will not walk away from the promise of clean energy. your future is too important. [cheers and applause] i will not give up solar or the battery industry to china or germany because some politicians in washington refused to make the same commitment and america. with or without this congress, i will continue to do whatever i can to develop every source of american energy. so our future is not controlled by events on the other side of the world. [applause] today, we are taking a step that will make it easier for companies to save money by investing in energy solutions that have been proven here at the university of miami. new lighting systems, advanced heating and cooling systems --
6:53 am
we're launching a program that will bring together the nation's best scientists and engineers an entrepreneur is to figure out how more cars can be powered by natural gas, a fuel that is cleaner and more abundant than oil. we've got more of that. we don't have to import it great we may be exporting it soon. we're making new investments in the development of gasoline and diesel and jet fuel that is made from a plant-like substance. , algae. you have a bunch of algae out here, right? [laughter] if we can figure out how to make energy out of that, we will be doing all right. believe it or not, we could replace up to 17% of the oil we import for transportation with this fuel that we can grow right here in the united states. that means greater energy security, lower-cost, it means more jobs, it means a stronger economy.
6:54 am
none of the steps i have talked about today will be a silver bullet. it will not bring down breast -- gas prices to margaret that but says they have a plan for that, i'm just saying. [applause] we're not overnight going to solve the problem of world oil markets. there is no silver bullet. there never has been. part of the problem is will that politicians pretend that there is and we put up making the tough choices to develop new energy sources and become more energy-efficient. we have to stop doing that. we don't have the luxury of pretended. we've got to look at the facts and a science and figure out what we need to do. we may not have a silver bullet but we do have, in this country, limitless sources of energy, a boundless supply of
6:55 am
ingenuity, a huge imagination, amazing young people like you -- all of which we can put to work to develop this new energy source. the easiest thing in the world is to make phone election-year lower gasabout lowe prices but will not result in one year or in one term and may not be completely solved in one decade but that is the kind of commitment we need right now. that is what this moment requires. i need all of you to keep at it. i need you guys to work hard and dream big and i need those of you who are smarter than me to figure out how we will be able to tap into new energy sources. we've got to summoned the spirit of optimism and that willingness to tackle tough problems that
6:56 am
previous generations and met the challenge of their times. the sentimental daman and connected the entire world with our own science and -- they sent a man to the moon and connected the entire world with their own size. that is what this is about and that history teaches us that whatever our challenges, whatever we face, we always have the power to solve it. this is going to be one of the major challenges for your generation. solving it will take time and effort and it will require our brightest scientists and most creative companies but will also require all of us as citizens, democrats, republicans, everybody in between, we will have to do our part. if we do, the solution is within our reach and i know we can do it. we have done it before and when we do, we will remind the world once again why it is that the united states of america is the greatest country on earth.
6:57 am
thank you, everybody. god bless you. god bless america [cheers and applause] ♪ ♪ [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] ♪ ♪ ♪ ♪ >> president obama was talking about energy prices in miami yesterday. the american enterprise institute will post a debate today on the economics of clean and renewable energy. that gets started at noon eastern on c-span 3. the nation's governors will be in washington this weekend and this morning, a politico will host a conference with republican governor bob mcdonnell of virginia and
6:58 am
maryland governor martin o'malley, a democrat. they will discuss some of the challenges that states are facing at live coverage get started on c-span 2 in just over one hour. >> live, saturday, on american history tv on c-span 3, 5 civil war historians make their case for the person of the year for 1862. it is from the museum of the confederacy enrichment and there will be an audience vote for you can join in the discussion alive saturday started an 9:30 a.m. eastern on cspan 3. >> coming up next, today's news, your calls and e-mails live on "washington journal." gop presidential candidate mitt romney will talk about his new tax plan today at the detroit economic club. we will have live coverage here on c-span at two o'clock 15
6:59 am
eastern. in 45 minutes, we will talk with political commentator pat buchanan and after that former wisconsin senator russ feingold will join us from new york. he will talk about his new book, a wake-up call for the post-9/11 year and later, a roundtable discussion on the demographics of higher education. ♪ ♪ host: good morning. it is friday, february 24,


info Stream Only

Uploaded by TV Archive on